Insider Selling: Brink’s Company (The) (BCO) Director Sells $4,548,600.00 in Stock
Brink’s Company (The) (NYSE:BCO) Director Peter A. Feld sold 60,000 shares of Brink’s Company (The) stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $75.81, for a total value of $4,548,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Brink’s Company (NYSE BCO) opened at 77.05 on Thursday. The stock has a 50 day moving average price of $74.18 and a 200-day moving average price of $62.40. Brink’s Company has a 1-year low of $33.99 and a 1-year high of $81.35. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 45.86 and a beta of 1.71.
Brink’s Company (The) (NYSE:BCO) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.18. Brink’s Company (The) had a net margin of 2.73% and a return on equity of 34.49%. The company had revenue of $806 million during the quarter, compared to analysts’ expectations of $730.87 million. During the same quarter in the prior year, the company earned $0.38 EPS. Brink’s Company (The)’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Brink’s Company will post $3.02 earnings per share for the current year.
Brink’s Company (The) announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 8th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the business services provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, July 27th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, July 25th. This represents a $0.60 annualized dividend and a yield of 0.78%. Brink’s Company (The)’s dividend payout ratio is presently 35.71%.
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A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of Brink’s Company (The) by 17.5% in the first quarter. Ameriprise Financial Inc. now owns 320,682 shares of the business services provider’s stock valued at $17,140,000 after buying an additional 47,737 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Brink’s Company (The) by 4.8% in the first quarter. Geode Capital Management LLC now owns 347,111 shares of the business services provider’s stock valued at $18,553,000 after buying an additional 15,803 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Brink’s Company (The) during the first quarter valued at about $599,000. Louisiana State Employees Retirement System boosted its stake in shares of Brink’s Company (The) by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the business services provider’s stock valued at $978,000 after buying an additional 300 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Brink’s Company (The) by 3.1% in the first quarter. Swiss National Bank now owns 74,200 shares of the business services provider’s stock valued at $3,966,000 after buying an additional 2,200 shares in the last quarter. 89.74% of the stock is owned by institutional investors.
Separately, Imperial Capital lifted their price target on Brink’s Company (The) from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $64.00.
About Brink’s Company (The)
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company’s solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services.
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